Man Group plc Buys Shares of 7,544 MasTec, Inc. $MTZ

Key Points

• Man Group plc opened a new MasTec position by purchasing 7,544 shares valued at approximately $3.14 million. Institutional investors collectively own 78.1% of the company.
• MasTec reported quarterly revenue of $4.37 billion, up 23.4% year over year and above estimates, but earnings per share of $2.22 narrowly missed expectations.
• Analysts maintain a broadly positive outlook, with a “Moderate Buy” consensus and an average price target of $427.32, while a company director recently sold 6,500 shares.

Man Group plc bought a new position in MasTec, Inc. (NYSE:MTZ - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 7,544 shares of the construction company's stock, valued at approximately $3,139,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in MasTec in the second quarter worth about $3,178,069,000. Victory Capital Management Inc. increased its position in MasTec by 178.6% during the 4th quarter. Victory Capital Management Inc. now owns 2,637,451 shares of the construction company's stock valued at $573,304,000 after purchasing an additional 1,690,896 shares during the period. Hill City Capital LP bought a new stake in shares of MasTec in the 2nd quarter valued at about $896,609,300. Peconic Partners LLC raised its holdings in shares of MasTec by 113.3% in the 4th quarter. Peconic Partners LLC now owns 1,600,000 shares of the construction company's stock valued at $347,792,000 after purchasing an additional 850,000 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of MasTec by 7.6% in the 1st quarter. First Trust Advisors LP now owns 1,411,584 shares of the construction company's stock worth $454,163,000 after purchasing an additional 100,151 shares during the period. Institutional investors own 78.10% of the company's stock.

MasTec Stock Performance

Shares of MTZ opened at $239.91 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 1.37 and a debt-to-equity ratio of 0.71. The firm has a market cap of $19.27 billion, a PE ratio of 38.26 and a beta of 1.82. MasTec, Inc. has a 12 month low of $171.05 and a 12 month high of $441.43. The stock has a fifty day moving average price of $321.60 and a 200-day moving average price of $337.42.

MasTec (NYSE:MTZ - Get Free Report) last announced its earnings results on Thursday, July 30th. The construction company reported $2.22 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($0.01). MasTec had a return on equity of 18.08% and a net margin of 3.07%.The business had revenue of $4.37 billion for the quarter, compared to analysts' expectations of $4.30 billion. During the same quarter last year, the firm earned $1.49 earnings per share. The firm's quarterly revenue was up 23.4% compared to the same quarter last year. MasTec has set its Q3 2026 guidance at 2.980-2.980 EPS and its FY 2026 guidance at 9.300-9.300 EPS. Equities research analysts predict that MasTec, Inc. will post 8.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MasTec news, Director Ernst N. Csiszar sold 6,500 shares of the business's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $371.17, for a total transaction of $2,412,605.00. Following the sale, the director owned 10,816 shares of the company's stock, valued at approximately $4,014,574.72. The trade was a 37.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 21.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MTZ has been the topic of several research reports. Wall Street Zen lowered shares of MasTec from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. JPMorgan Chase & Co. increased their target price on MasTec from $471.00 to $491.00 and gave the company an "overweight" rating in a research report on Wednesday, May 13th. Robert W. Baird reduced their price target on MasTec from $475.00 to $363.00 and set an "outperform" rating for the company in a research report on Monday, August 3rd. UBS Group decreased their price objective on MasTec from $453.00 to $410.00 and set a "buy" rating for the company in a research note on Tuesday, August 4th. Finally, Zacks Research lowered MasTec from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 26th. Nineteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $427.32.

About MasTec

MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.

The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.